http://myfinlife.com Finance blog: read, write, think. Mon, 05 Jan 2009 22:59:17 +0000 http://backend.userland.com/rss092 en Spain’s inflation rate fell to its lowest in almost a decade in December as oil prices slid from a July peak and weak demand encouraged retailers to cut prices. Consumer prices gained 1.5 percent from a year ago, using the European Union’s calculation method, compared with 2.4 ... http://myfinlife.com/spain-inflation-at-lowest-in-a-decade-as-oil-slides/ Gulf Arab leaders approved a monetary union agreement that aims to create a central bank and single currency for the region that will help boost trade and strengthen monetary policy. The agreement must now be approved by the national governments of all six members of the Gulf ... http://myfinlife.com/gulf-arab-countries-approve-monetary-union-agreement/ The U.S. dollar fell against its major trading partners Wednesday as investors digested a barrage of economic data ahead of the holiday.The euro edged higher against the dollar to trade at $1.4006, from $1.3950 late Tuesday in New York. The British pound remained weak against the dollar at ... http://myfinlife.com/dollar-weak-against-rivals/ Russia devalued the ruble for the third time in a week, sending the currency to its lowest level against the dollar since January 2006, as oil’s drop below $37 a barrel dimmed the outlook for growth. The ruble, down 18 percent against the dollar since the beginning ... http://myfinlife.com/russia%e2%80%99s-central-bank-devalues-ruble-for-third-time-in-week/ Cash-strapped shoppers were searching for bargains in the final weekend before Christmas and some were limiting their gift-giving to children in what may have been a make-or-break two-day period for U.S. retailers. “We’re buying less stuff for each other and just overall,” Dennis Decker, a 47-year-old landscape ... http://myfinlife.com/holiday-shoppers-in-us-focus-on-bargains-limit-gifts-to-kids/ The Philippine government posted its third straight monthly budget deficit in November as it boosted spending to counter the global recession. The shortfall was 4.3 billion pesos ($92 million) last month, Finance Secretary Gary Teves said in Manila today. That compares with an 8.96 billion-peso deficit in ... http://myfinlife.com/philippines-posts-third-budget-deficit-on-spending/ Europe’s trade gap narrowed for a third month in October as the slumping economy damped imports. The 15-nation euro area had a seasonally adjusted deficit of 1.3 billion euros ($1.9 billion), down from 4.4 billion euros in September, the European Union’s statistics office in Luxembourg said today. ... http://myfinlife.com/europe%e2%80%99s-trade-gap-narrows-as-recession-curbs-imports/ European Central Bank President Jean- Claude Trichet said there’s a limit to how far the bank can cut interest rates and signaled policy makers may pause in January. “Do we have a feeling there is a limit to the decrease in rates? At this stage certainly yes,” ... http://myfinlife.com/trichet-sees-rate-cut-limit-signals-ecb-may-pause/ Bill Clinton was forced to abandon spending initiatives to boost the economy at the start of his presidency when advisers warned him that the borrowing needed to fund the programs would push interest rates higher. President- elect Barack Obama may not have the same problem. While the ... http://myfinlife.com/treasury-benefits-from-%e2%80%98paranoia%e2%80%99-as-rates-decline/ An oversight committee set up by Congress criticized the U.S. Treasury for not using the $700 billion financial bailout to help average Americans, and questioned its commitment to stem home foreclosures. The panel, which met for the first time about two weeks ago, issued a report faulting ... http://myfinlife.com/congressional-panel-overseeing-us-bailout-criticizes-treasury/